Is Rowan County, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rowan County is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Rowan County has remained a Seller's Market.

Key Takeaway

Rowan County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Rowan County, NC

How much do homes in Rowan County, NC cost?

Median Sold Price

$279,797

$173/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$11,933(+4.5%)

Key Takeaway

Homes in Rowan County have sold for 4.5% more than they did a year ago.

Summary: The median home sold price in Rowan County was $279,797 in May 2024, up 4.5% from last year, and the median price per square foot was $173.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $195K$149.9K
-23.1%
2 $184.2K$203.3K
+10.4%
3 $264.9K$278.4K
+5.1%
4 $349.9K$336K
-4.0%
5+ $380K$402.5K
+5.9%

Summary: Rowan County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 23.1%, 2 bedroom homes increased by 10.4%, 3 bedroom homes increased by 5.1%, 4 bedroom homes decreased by 4%, and 5+ bedroom homes increased by 5.9%.

Median Sold Price Compared To Nearby Counties

Davie County
+5.6%
Davidson County
+5.1%
Rowan County
+4.5%
Cabarrus County
+3.4%
Iredell County
+1.7%

Housing Supply in Rowan County, NC

How many homes are available in Rowan County, NC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
635674+6.1%

Summary: The Rowan County real estate market had 674 homes for sale in May 2024, a 6.1% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 55
0.0%
2 8185
+4.9%
3 364410
+12.6%
4 138126
-8.7%
5+ 4748
+2.1%

Summary: The Rowan County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 4.9%, 3 bedroom homes increased by 12.6%, 4 bedroom homes decreased by 8.7%, and 5+ bedroom homes increased by 2.1%.

Number of Homes Sold

Apr 2024May 2024CHANGE
148130-12.2%

Asking Price vs. Sold Price

75 Homes Were Sold
Under Asking

26 Homes Were Sold
At Asking

29 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rowan County, you may be able to get a good deal. 57.7% of homes here sold below asking price last month.

Summary: A total of 130 homes were sold or pending in Rowan County in May 2024, down by 12.2% month-over-month. Of the 130 sold homes, 58% were sold under asking, 20% were sold at asking, and 22% were sold over asking.

Days on Market for Rowan County, NC

How long does it take to sell a home in Rowan County, NC?

Average Sale Time

May 2023May 2024CHANGE
32 Days54 Days+68.9%

Summary: Homes in Rowan County had an average of 54 days on market in May 2024, up by 68.9% compared to last year.

Breakdown of Home Sale Times

61 Homes Were Sold
Under 30 Days

40 Homes Were Sold
In 30 - 90 Days

27 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Rowan County are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 130 homes were sold in Rowan County; 47% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Rowan County, NC

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